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Another Funding Avenue for Hong Kong Startups

Nest, Hong Kong’s preeminent startup incubator has launched Investable.vc, a platform through which Hong Kong based startups can receive equity funding. Though TechCrunch is reporting this to be a ‘crowdfunding’ platform, it is less KickStarter-ish and more AngelList-ish (#hkuiom folks will appreciate this common misconception regarding ‘crowdfunding’). Startups that pass the Nest vetting process, but cannot be funded due to lack of expertise or funding, can raise equity via this platform. Investors who use this platform must be accredited (i.e. have a portfolio of US$ 1 million).

Good news for the startup community in Hong Kong in general, and #hkuiom and #hkuisad communities in particular!

Investable says that within the first day of the site’s launch, more than 100 professional investors sign up. Three investors have already committed $150,000 to startups on the platform, which currently lists 15 companies for its beta launch. One hardware startup called Simple Crossing, which makes wearable tech products for elderly people, has already raised 75% of the total $100,000 that it is seeking.